Sprint Corp. (S) Rating Reiterated by BTIG Research

Sprint Corp. (NYSE:S)‘s stock had its “sell” rating reaffirmed by BTIG Research in a research report issued to clients and investors on Sunday. They currently have a $2.50 price objective on the cell phone carrier’s stock, up from their previous price objective of $2.00. BTIG Research’s price objective indicates a potential downside of 65.99% from the company’s current price.

Other equities research analysts have also recently issued research reports about the company. Oppenheimer Holdings Inc. reissued a “market perform” rating on shares of Sprint Corp. in a research note on Tuesday, July 26th. Royal Bank Of Canada boosted their price target on Sprint Corp. from $5.00 to $6.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 26th. Morgan Stanley boosted their price target on Sprint Corp. from $3.00 to $4.40 and gave the company an “underweight” rating in a research note on Thursday, July 28th. Barclays PLC boosted their price target on Sprint Corp. from $4.00 to $5.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 26th. Finally, Argus reissued a “hold” rating on shares of Sprint Corp. in a research note on Tuesday, July 26th. Ten research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $4.63.

Shares of Sprint Corp. (NYSE:S) opened at 7.35 on Friday. Sprint Corp. has a 52 week low of $2.18 and a 52 week high of $7.56. The company has a 50 day moving average of $6.60 and a 200-day moving average of $5.34. The company’s market cap is $29.26 billion.

Sprint Corp. (NYSE:S) last issued its earnings results on Tuesday, October 25th. The cell phone carrier reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.03. The company had revenue of $8.25 billion for the quarter, compared to the consensus estimate of $8.69 billion. Sprint Corp. had a negative return on equity of 8.91% and a negative net margin of 5.65%. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.15) EPS. On average, equities research analysts expect that Sprint Corp. will post ($0.83) earnings per share for the current fiscal year.

In other Sprint Corp. news, insider Roger Sole-Rafols sold 49,844 shares of the firm’s stock in a transaction dated Wednesday, November 16th. The stock was sold at an average price of $7.53, for a total transaction of $375,325.32. Following the transaction, the insider now owns 1,516,241 shares in the company, valued at $11,417,294.73. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Paul W. Schieber, Jr. sold 52,375 shares of the firm’s stock in a transaction dated Monday, November 14th. The stock was sold at an average price of $7.36, for a total value of $385,480.00. Following the transaction, the vice president now owns 205,808 shares in the company, valued at approximately $1,514,746.88. The disclosure for this sale can be found here. 0.18% of the stock is owned by corporate insiders.

Institutional investors have recently modified their holdings of the company. First Trust Advisors LP boosted its position in shares of Sprint Corp. by 78,073.3% in the second quarter. First Trust Advisors LP now owns 20,373,523 shares of the cell phone carrier’s stock worth $92,292,000 after buying an additional 20,347,461 shares during the period. Primecap Management Co. CA boosted its position in shares of Sprint Corp. by 26.6% in the second quarter. Primecap Management Co. CA now owns 36,561,800 shares of the cell phone carrier’s stock worth $165,625,000 after buying an additional 7,671,300 shares during the period. Bank of Montreal Can bought a new position in shares of Sprint Corp. during the second quarter worth about $24,937,000. Morgan Stanley boosted its position in shares of Sprint Corp. by 54.0% in the third quarter. Morgan Stanley now owns 14,231,691 shares of the cell phone carrier’s stock worth $94,356,000 after buying an additional 4,990,833 shares during the period. Finally, BlackRock Fund Advisors boosted its position in shares of Sprint Corp. by 26.1% in the second quarter. BlackRock Fund Advisors now owns 17,746,561 shares of the cell phone carrier’s stock worth $80,392,000 after buying an additional 3,676,883 shares during the period. Hedge funds and other institutional investors own 14.73% of the company’s stock.

About Sprint Corp.

Sprint Corporation (Sprint) is a holding company. The Company, along with its subsidiaries, is a communications company offering a range of wireless and wireline communications products and services that are designed to meet the needs of consumers, businesses, government subscribers and resellers. It operates through two segments: Wireless and Wireline.